Editor's note: This brief was summarised by The Property AI Newsroom from a report by This Is Money Mortgages. Read the original article for full details.
Low Deposit Mortgages Reach Post-2008 High
Bank of England data shows that the share of new mortgages with deposits lower than 10% of the property's value has increased this year. This marks the highest level for such mortgages since 2008.
The report notes that this trend comes as buyers continue to face challenges getting onto the housing ladder. Letting agents and inventory clerks may wish to monitor this development, as changes in mortgage lending patterns can influence demand in the rental market and affect tenant profiles.
Source: This Is Money Mortgages